Prof. Roni Michaely and coauthors’ research “Producing AI Innovation and Its Value Implications”, won the best research paper award at the Finance Symposium 2024. The research offers a roadmap for understanding the far-reaching impacts of the artificial intelligence (AI) revolution on innovation, corporate strategy, and firm value. By examining the activities of U.S. publicly traded firms, it is discovered that AI accounts for a rapidly growing share of innovative work in the last 30 years (1990-2020), with a record of 25% by scientific value and 35% by commercial value.
AI accounts for a significant and rapidly growing share of innovative work produced over the past 30 years
Firms strategically align their R&D efforts to capitalise on the AI boom, driven by their own and their customers’ exposure to the powerful technology
AI production signifies higher profitability and lower risk, leading to major increases in a firm’s future stock returns
HKU Business School and Wynn Resorts (Macau) S.A. signed a Memorandum of Understanding (MoU) to collaborate on nurturing industry leaders and elevating academic research in support of the tourism industry. The partnership marks an important milestone in strengthening collaboration between the academic and business sectors in the modern service industry. The MoU was jointly signed by Professor Hongbin Cai, Dean of HKU Business School, and Ms. Linda Chen, President, Vice Chairman and Executive Director of Wynn Macau, Limited.
HKU Business School will work closely with Wynn Resorts (Macau) S.A., a leading integrated resort in Macau to offer learning opportunities and Executive Education programmes, to equip industry practitioners with the latest leadership and service management knowledge. By enhancing individuals’ professional service capabilities, the collaboration aims to bring the quality of services in the industry to new heights. The partnership will also establish an academic cooperation framework, to support cutting-edge research projects and promote efficient information exchange for academic studies. Additionally, various forms of collaboration opportunities will be explored to accelerate industry growth.
Both parties were excited to embark on this journey of collaboration, and look forward to creating more opportunities for researchers and industry professionals to work together and share knowledge, supporting the development of the tourism industry in the region.
Caption: The MoU between HKU Business School and Wynn is signed by Ms. Linda Chen, President, Vice Chairman and Executive Director of Wynn Macau, Limited (left), and Professor Hongbin Cai, Dean of HKU Business School (right).
The 212th Congregation Ceremony of the HKU Business School took place at the Grand Hall, Centennial Campus, The University of Hong Kong on July 9 and 10, 2024. This momentous event spanned six sessions, creating a truly special occasion for all involved.
One of the highlights was an inspiring speech delivered by Dean Professor Hongbin Cai. As the graduands prepared to enter the dynamic business world, Professor Cai reminded them: “Upholding the core values that our University stands for – ‘Wisdom and Virtue’, I am sure you will overcome challenges and difficulties, and find a life path that leads to your own success and fulfillments.”
The votes of thanks were delivered by graduand representatives Yui Pong Yeung, Pui Him Fung, Elbert Vallent, Huizhu Li, Yifan Gong, and Guang Yang. They expressed heartfelt gratitude to the faculty, staff, families, and friends for their unwavering support throughout the academic journey. Their words resonated with the audience, capturing the essence of the challenges faced, the triumphs achieved, and the optimistic, forward-looking mindset of the graduates as they embrace the opportunities ahead.
The Congregation Ceremony was attended by over 3,100 people, including 1,100 graduands embarking on the next chapter of their lives and 2,000 families and friends who came to support and celebrate this remarkable milestone.
Congratulations to our students for winning Champion and 1st Runner-up in MBS Simulated Business Management Competition 2024!
The MBS Simulated Business Management Competition is organised by the International Association of Business Management Simulation (IABMS) and HKU SAAS Data Science Lab. It aims to provide students with the opportunity to apply their theoretical knowledge in practical and simulated business environment.
The competition involved a series of challenges that simulated real-world business scenarios. In the six intense rounds, each participating team was required to run a virtual enterprise and make strategic decisions related to marketing, finance, operations, and other business functions to achieve the highest overall business performance and profitability.
Among the thirty student teams from Hong Kong and Thailand, our students demonstrated their outstanding critical thinking and decision-making abilities and won Champion and 1st Runner-up in the competition.
Champion Team Name: RiskTakers Team members: Huang Hongbin, BSc(QFin), Year 2 Sun Zong Zheng, BEcon&Fin, Year 2
First Runner-up Team Name: VPN Team members: Wong Man Chun, BSc(QFin), Year 2 Lian Wai Kai, BSc(QFin), Year 2 Poon Tsz Chung, BSc(QFin), Year 2
Student Sharing:
“This competition is a precious opportunity for students to utilise academic knowledge learned from the university and integrate real-life decisions. We had the chance to analyse the given economic status and choose the most suitable business strategies to outperform other teams. I learned how to cooperate and communicate with my teammates during the competition to make a guesstimation for different financial budgets and data.
Furthermore, the competition also required us to finish an on-site presentation regarding our strategies and put forward new ideas for the company’s future development. The strict time limit gave me the experience ofquick preparation and helped develop my presentation skills significantly. Overall, this competition deepened my insight into the whole industry and made me know more about business management with many soft skills.”
(by Mr. Huang Hongbin)
“Winning as the champion, though very rewarding and encouraging, was not the initial purpose. Participating in the competition was an attempt to push my boundaries and gain a better understanding of business management in real life. Indeed, my goal was achieved, and I learned a lot from this insightful experience. It taught me that the ability to adjust to new conditions is sometimes more important than coming up with a good initial strategy. “
(by Mr. Sun Zong Zheng)
“Participating in the competition gave me valuable insights into various aspects of company operations through a macro business simulation. Analysing our team’s conditions and the decisions made by other competitors, it was fascinating to uncover the rationale behind the user interface. Making decisions on different markets and long-term investments provided a hands-on experience that deepened my understanding of real-world business operations. This insightful competition expanded my practical knowledge and exposed me to the complexities of business management.”
(by Mr. Wong Man Chun)
“This competition gave me valuable insights into the fundamental activities and decision-making procedures involved in companies’ financial and marketing aspects. It enhanced my understanding of business practices and helped me develop a keen business sense. The competition entailed examining diverse business data to make informed decisions regarding production distribution, marketing approaches, and research and development investments, all crucial for succeeding in the ever-changing business landscape.”
(by Mr. Lian Wai Kai)
“Participating in IABMS workshops and bootcamps offered a great opportunity to acquire and develop technical skills from hands-on field experience. I learned to extract insights from large data and interpret economic indicators. Representing different departments, we analysed and debated business issues like production flow, inventory management, research and development, and project financing. Through active discussion, we created a clear, interconnected presentation. This competition broadened my business horizons, enhanced my technical knowledge, and improved my interpersonal skills.”
The HKGCC Pitch Perfect Programme 2024 is an all-round training programme organised by Hong Kong General Chamber of Commerce (HKGCC). This year, the programme was sponsored by six companies – Cathay Pacific Airways, Ernst & Young, MTR Corporation, The Mills Fabrica (Nan Fung Group), New World Development and NEC Hong Kong.
The programme consists of four stages, which aims to equip students with essential workplace skills through a series of training courses, company visits, and mentorship opportunities. In the semi-final and final round, students underwent hypothetical job interviews with senior executives from sponsoring companies and HKGCC leadership.
Among the 150 undergraduate students across universities in Hong Kong, students from the HKU Business School have demonstrated their exceptional interview and pitching skills, and were crowned as Winner and Overall Champion in this programme.
Winner and Overall Champion: Chan Chun Yan Natalie, BBA(Law)&LLB, Year 3
Winner: Singh Karndeep, BEcon&Fin, Year 2
Student Sharing:
“The HKGCC Pitch Perfect Programme 2024 has been an invaluable learning experience for me on multiple levels. I have learned a tremendous amount about resilience, adaptability, and effective communication. The high-pressure pitch competition environment challenged me to think quickly, respond to tough questions, and maintain composure under stress. I am enormously grateful to have been a part of this experience, and I know the skills and connections I have gained will continue to serve me well in my career.” (by Miss Chan Chun Yan Natalie)
“Having mentors like Mr. Victor Lam, JP, who brought the perspective of a business owner, and Mr. Kevin So, Arcadis, who brought the perspective of a corporate, they both provided me a lot of guidance and answered all of our questions about presenting oneself at an interview. My public speaking skills have definitely improved, and I have been given various tips on how to best present myself in a job interview setting.” (by Mr. Singh Karndeep)
The annual summer programme, “Creativity, Innovation and Entrepreneurship in China (CIEC)” was successfully concluded online on June 19, 2024. Right after the completion of the fourth cohort of the CIEC programme, an in-person networking event was held on June 22, 2024 at Shenzhen Campus. The event offered CIEC past participants an opportunity to exchange ideas and forge connections with CIEC guest speakers and the student community.
The CIEC programme provides the younger generation with an in-depth understanding of the economic development in Hong Kong and Mainland China, as well as the latest trend in education, business, creativity, innovation and entrepreneurship in the Greater Bay Area since its launch in 2019. In 2024, 62 students from different faculties at The University of Hong Kong and other top universities with diverse background were enrolled in the programme. With the innovative pedagogical approach, students actively participated in the CIEC with the guidance from CIEC Programme Co-Directors, Prof. Joseph Chan and Dr. Jing Li, throughout the class time, regardless of their geographic location.
This year, the CIEC programme collaborated with 10 companies from all walks of life, including biotechnology, drone technology, education, asset management, finance, human resources, property development, construction, retail and other innovative technology, such as Web3 development. The guest lectures offered students the opportunities to learn and gain insights into various industries from the guest speakers, who are either senior management or founders of the corporates. After learning from these business leaders, the programme provided students with ample opportunities to discuss, brainstorm and present their innovative ideas on various topics in smart construction, drone technology applications, retail business development and digital transformation in the debate sessions.
CIEC Programme Co-Directors, Prof. Chan and Dr. Li, had conducted interviews with guest speakers from these companies before the programme began. After broadcasting the interview videos, students got the chance to interact with the industry experts in the Q&A sessions throughout the 9-day programme. These interactive sessions offered valuable opportunities for students, not only to understand the real business landscape and environment, development and policy of different industries but also to explore their own future development and planning. 10 speakers for the guest lectures included (in alphabetical order of industry partners):
June Leung, Chairperson, BExcellent Group Holdings Limited
Rui Zhe Shao, Assistant President, China State Construction Engineering (Hong Kong) Limited
Tommy Cheung, Managing Director, Club Essence
Jimmy Tsang, Deputy General Manager, Goldlion Holdings Limited
Junwei Tan, Chairman, Guangzhou Zhihui Group
Sammi Wong, Leader, HKSTP Ventures
Jackson Chan, Co-founder & Executive Director, KOS International Holdings Limited
Justin Yeung, Secretary to the Board of Directors, Shenzhen DAMODA Intelligent Control Technology Co., Limited
Timmy Leung, Director of Treasury, Shui On Land
Jimmy Tao, CEO, Vitargent (International) Biotechnology Limited
Towards the end of the programme, Mr. Chan gave his greatest appreciation, not only to Dr. Jing Li, the CIEC Programme Co-Director, Dr. Ernest Lo who supported the guest interview shooting, the student ambassadors who supported the translation of the guest lectures, the CIEC working team and its collaborators, but also to all participating students who were fully engaged and involved in learning throughout the 9-day programme.
“Different guests have shared their own experience, thoughts and insight in different areas. I believe students are able to learn, not only from their past experience but more importantly, how they see the current business environment”, said Mr. Chan. He hopes these insights can open up the students’ mind with a better understanding of different industries so that they can seize future opportunities ahead. Mr. Chan added, “Although the programme has come to an end, the CIEC community is here to support your future development with the resources we built.”
Dr. Li also expressed her appreciation for the active participation of all students. “Your reaction, contribution and participation throughout different sections helped to develop a very good synergy between teachers and students. I am also deeply impressed by your growth and significant improvement from the first debate session to the last one”. Dr. Li is confident that the comprehensive information delivered through the guest lectures, Q&A, discussion and lectures will be useful for students’ future learning and career development. “You will find some clues or reference from today’s CIEC programme when trying to develop new connections or solve new problems in future”.
After the conclusion of CIEC 2024, we took the opportunity to host a CIEC Alumni Networking Event at the HKU Business School Shenzhen Campus. Past participants from 4 cohorts since 2019 and guest speakers gathered for the whole day event on June 22, 2024. The CIEC community had the chance to explore the Shenzhen Campus and its incubation centre – YUAN Valley in the morning, followed by a networking session with prominent CIEC guests in the afternoon.
It was an unforgettable gathering, bringing together a diverse array of CIEC past participants and guests for an invaluable opportunity to forge connections, exchange ideas, and strengthen the vibrant CIEC community after the programme. This event underscores the continued growth and unity of the CIEC community, and we look forward to bringing more positive impacts towards students’ development.
HKU Business School and Alibaba Cloud Academy successfully launched the first cloud computing credit course for undergraduate students. In the second semester of 2023/24, over 50 students worldwide enrolled in the course. Nearly 90% of the students attained the Alibaba Cloud Associate (ACA) Cloud Computing Certification at the end of the course.
The comprehensive curriculum leveraged Alibaba Cloud Academy’s resources to introduce key cloud computing concepts to our students and provide real-life industry scenarios to accelerate their learning. Our students immersed themselves in a comprehensive curriculum curated by Alibaba Cloud Academy, diving into cutting-edge technologies and practical applications of the Alibaba Cloud ecosystem. Seamlessly blending technical prowess with business acumen, they explored the intersection of Alibaba Cloud’s technology and their own entrepreneurial ideas, helping them understand cloud computing’s transformative potential. Alibaba Cloud also extended unwavering support for the students’ commercial projects with utmost dedication. The culmination of the course saw students equipped with academic knowledge and practical experience. Several students also secured coveted roles in cloud computing-related fields post-graduation.
Congratulations to all contestants for their outstanding effort at the HSBC/HKU Asia Pacific Business Case Competition 2024 – the world’s largest business case competition for undergraduates.
The final round of this year’s competition, which took place from 26 to 29 May, was held in-person for the first time since 2019. Students from 24 prestigious universities in 19 different locations globally gathered in Hong Kong, showcasing their ideas and exploring the city’s vibrant culture and innovative spirit.
The final case of the 4-day event featured GreenPrice, a successful grocery chain with a mission to reduce waste. Co-founded by two HKU Business School alumni from the class of 2019, GreenPrice showcases the ability of our youth to combine innovation and social responsibility. The contestants were inspired by the case company’s story and entrepreneurial spirit.
Speaking at the awards presentation ceremony, Dr Peter WONG, Chairman, The Hongkong and Shanghai Banking Corporation Limited, and The Hongkong Bank Foundation, said, “As we get together in Hong Kong, we’d like students to draw inspiration from a city which is always experimenting, exploring, and defining its new identity. We all need to find relevance in a changing world. I strongly believe that when the participants graduate, they will bring fresh perspectives towards addressing the biggest challenges including the priority of sustainability, the impact of AI, and the importance of diversity and inclusion. HSBC is proud to offer continuous support to the HSBC/HKU Asia Pacific Business Case Competition since 2008, benefitting over 90,000 students.”
Over the years, more than 1,500 HSBC executives have volunteered as judges, exemplifying HSBC’s commitment in nurturing tomorrow’s business leaders and contributing to the global economy.
Professor Hongbin CAI, Dean of HKU Business School, said, “HKU Business School and HSBC have joined forces to help nurture the next generation of leaders for Hong Kong and beyond in the last 17 years. Now the HSBC/HKU Business Case Competition has evolved into the world’s largest business case competition for undergraduates and serves as a true measure of students’ multifaceted skills, challenging them to apply what they have learned in the classroom to real-life situations. It was impressive to see the students demonstrate their entrepreneurial spirit and critical thinking by coming up with innovative solutions to tackle complex business problems, especially in emerging areas like ESG. I believe this experience will be invaluable in shaping them into leaders who can create a sustainable future for our communities.”
The Competition, organised by the Asia Case Research Centre, HKU Business School, aims to nurture future business leaders by sharpening their critical thinking and broadening their global perspectives. It also bridges the gap between academic theories and real-world business practices, while actively promoting a culture of diversity and inclusion.
The 24 teams came from 19 different locations including Australia, Bangladesh, Hong Kong, mainland China, India, Indonesia, Japan, Macao, Malaysia, Mauritius, New Zealand, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, The Philippines, USA and Vietnam.
The Asset Management and Private Banking (AMPB) Programme provides students with the opportunities to meet senior practitioners in the finance industry. Three events were held in the second semester of 2023-2024.
Meeting the Vice Chairman of the Family Office Association Hong Kong
On 23 January 2024, we hosted Mr. Jim Kwok, the Vice Chairman of the Family Office Association Hong Kong and the CEO of the Topaz Family Office Ltd.
Mr. Kwok provided insights into Hong Kong’s family office industry. During his sharing, he talked about his experience of advancing his career path and emphasized the diversity and skills transferability of the finance industry. Mr. Kwok shared with us that he began his career in securities and started meeting customers and investors. He develops his interest in understanding the holistic needs of his customers, and believes Hong Kong has a significant role to play in managing family wealth. His passion motivates him and makes him a co-founder of Topaz Family Office.
(From left) Mr. Jim Kwok of Family Office Association Hong Kong; Prof. Anna Wong of HKU
Meeting the Managing Director and the Head of Investment Management at Goldman Sachs Asia
On 29 February 2024, we were joined by Dr. Jacky Tang, who is currently the Managing Director and the Head of Investment Management at Goldman Sachs Asia.
Dr. Tang recognised the importance of nurturing the next generation and picked up his current role as an Adjunct Professor at HKU Business School. During the sharing, Dr. Tang talked about his experience of working in the asset management industry. He highlighted the significance of ESG concepts in the modern financial industry and presented some fundamentals of asset management. Dr. Tang also shared various tips of self-development and what employers are looking for when hiring graduates.
Dr. Jacky Tang of Goldman Sachs Asia
Meeting the Head of ESG at Polymer Capital Management
On 15 April 2024, we had Mr. Anthony Cheung as our guest, who is the Head of ESG at Polymer Capital Management.
(Left) Mr. Anthony Cheung of Polymer Capital Management
Mr. Cheung shared his insights on ESG investment from the corporate and investor perspectives, explaining how decisions are made as an investment manager. During the sharing, he introduced various investment concepts and office tools with an onsite consulting session. Through the practical interaction, the participants gained precious experience in interpreting actual market data, and also learnt the importance of integrating ESG into portfolio decisions and how investors value ESG.
Students have learnt a lot from the senior executives in the finance industry. Stay tuned for the next Meeting the Practitioners Series in the next academic year.
The HKU Business School PhD Recruitment Camp 2024 was successfully held from May 1 to 3, 2024. 53 elite students with diverse academic backgrounds from China, Singapore, the UK and the USA were selected from a pool of over three hundred applicants to join us at the event. During the three-day Camp, participants were presented with the unique opportunity to gain valuable insights into the prospects of pursuing PhD studies through a series of interactive activities.
The Camp kicked off with the opening speech of Prof. Chen Lin, Associate Dean (Research and Knowledge Exchange), who gave an introduction of HKU Business School and provided an overview of our PhD programme. Following a delightful lunch, an alumni sharing session was organised where three distinguished alumni shared their personal experiences and insights of their PhD journeys. We also took the participants on a captivating campus tour to show them the beauty of our campus while sharing interesting facts and important historical details of the university with them.
As a perfect conclusion to Day 1, we embarked on a boat ride to Lamma Island to indulge in delicious seafood. Participants had the chance to socialise with our Faculty members and current students during this casual and relaxing outing.
Day 2 commenced with an enlightening PhD Students Research Showcase, where six current students presented their research projects to showcase the diverse portfolio of the research interests and strengths of our PhD students. In the afternoon, the participants were divided into six areas according to their chosen field of research study, and engaged in intellectual activities such as thematic talks, research workshops and academic discussions with faculties.
On Day 3, the Camp concluded with a memorable closing ceremony where Prof. Lin gave his closing remarks and presented the certificates to all successful participants. Following the ceremony, individual interviews were conducted, providing an opportunity for in-depth discussions and assessments.
We hope the experience has enriched students’ understanding of our PhD programme and inspired their intellectual curiosity to achieve excellence in academic research. We extend our heartfelt appreciation to all supporting parties for making the PhD Recruitment Camp a tremendous success!
